Business Services Industry
Airline looks to ditch Virgin stake.
Australasian Business Intelligence, July, 2007
Byline: Mark Kleinman
Jul 09, 2007 (The Age - ABIX via COMTEX) -- Singapore Airlines is believed to be considering the divestment of its 49 holding in UK-based carrier Virgin Atlantic. It had struck an agreement with Virgin founder Sir Richard Branson when acquiring the stake for Stg600m in 1999 that the business would eventually be listed on the stock market. However, these plans were disrupted by events affecting the global air travel sector. If Singapore's interest were to be sold to one of the private equity consortia now active in the industry, it could gain as much as Stg1bn, experts argue. First published in the "Daily Telegraph", London.
Publication Date: 10 July 2007
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